HomeMy WebLinkAbout2004-165-04.05.2004 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa .
RESOLUTION NO. 2004-165
RESOLUTION FIXING THE TIME AND PLACE OF
HEARING AND NOTICE TO BE GIVEN ON A
DEVELOPMENT AGREEMENT WITH HY-VEE TO BUILD A
37, 000 SQUARE FOOT FACILITY GENERALLY LOCATED
AT THE SOUTHWEST CORNER OF U. S . 63 AND HEATH
STREET, WITH A MINIMUM ASSESSMENT OF
$3 , 500, 000 . 00 , WITH TAX REBATES FOR
APPROXIMATELY SEVEN YEARS AT $100, 000 . 00 PER
YEAR UNTIL THE PURCHASE PRICE FOR THE LAND IS
REIMBURSED AS APRIL 12, 2004 AT 5 : 30 P.M. IN
CITY HALL COUNCIL CHAMBERS, WATERLOO, IOWA
AND INSTRUCTING THE CITY CLERK TO PUBLISH THE
NOTICE OF HEARING.
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF WATERLOO, IOWA,
AS FOLLOWS :
Section 1 . That the Council of the City of Waterloo, Iowa
shall meet at City Hall Councilh Chambers in the City of Waterloo,
Iowa at 5 : 30 p.m. on the 12 day of April , 2004 for the purpose
of considering and acting upon a Development Agreement with Hy-
Vee to build a 37, 000 square foot facility generally located at
the southwest corner of U. S . 63 and Heath Street, with a minimum
assessment of $3 , 500, 000 . 00, with tax rebates for approximately
seven years at $100 , 000 . 00 per year until the purchase price for
the land is reimbursed, and legally described as follows :
A part of the SE 'A of Section 11-89-13 , Waterloo, Black
Hawk County, Iowa and part of Lots 5, 6, 7 and 8,
Auditor Barnes' Plat No. 1, Waterloo, Black Hawk
County, Iowa, described as follows :
Commencing at the Northeast corner of the SE IA of said
Section 11; thence S 00°30' 30" E a distance of 1197 . 72
feet; thence S 89°29' 30" W a distance of 33 . 00 feet to
the Westerly R-O-W line of U. S . 63 (Logan Ave . ) ; thence
S 00°30 ' 30" E along said R-O-W line a distance of 4 . 87
feet; thence S 14°36' 00" W along said Westerly R-O-W
line a distance of 57 . 11 feet to the South line of
Heath Street and the point of beginning; thence S
14°36' 00" W along said Westerly R-O-W line a distance
of 46 . 49 feet; thence S 00°30 ' 30" E along said Westerly
R-O-W line a distance of 323 . 59 feet ; thence N
89°33 ' 53" E along said Westerly R-O-W line a distance
of 27 . 00 feet; thence S 00°30' 30" E along said Westerly
R-O-W line a distance of 26 . 33 feet; thence S 00°16' 00"
W along said Westerly R-O-W line a distance of 73 . 90
feet ; thence S 00°38 ' 00" W along said Westerly R-O-W
line a distance of 200 . 00 feet to the South line of the
North H of Lot 5, Auditor Barnes Plat No. 1, Waterloo,
Black Hawk County, Iowa; thence S 89°33 ' 53" W along the
South line of the North of said Lot 5 a distance of
399 . 88 feet; thence N 00°30' 30" W a distance of 667 . 99
feet to the South line of Heath Street; thence N
89°29' 30" E along the South line of Heath Street a
distance of 390 . 00 feet to the point of beginning.
The East line of the SE 4 of said Section 11-89-13 is
assumed to bear S 00°30' 30" F, all in the City of
Waterloo, Black Hawk County, Iowa .
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H ty O s N tkltD ,ADOPTED this 22nd day of March, 2004 .
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